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List of All Articles with Tag 'world'

Mercedes Raises Guidance on Improved Car, Van Pricing
Mercedes Raises Guidance on Improved Car, Van Pricing
Mercedes-Benz Group AG raised its earnings forecast for the year after profit at its vans division rose in
1970-01-01 08:00
Biden is welcoming far-right Italian Prime Minister Meloni for White House talks
Biden is welcoming far-right Italian Prime Minister Meloni for White House talks
President Joe Biden is set for talks with Italian Prime Minister Giorgia Meloni on Thursday, welcoming the far-right leader who has won praise from the U.S. administration for her strong backing of the U.S.-led effort to assist Ukraine as it tries to fend off the Russian invasion. The warm reception comes after initial trepidation in the Biden administration about Meloni, who rose to power last year as the head of Italy’s most far-right government since the end of World War II. Biden administration concerns about her ideology have been eased by her support for Ukraine and her seeming openness to pull back from Italy's participation in China's infrastructure-building Belt and Road Initiative. Her visit comes as Italy prepares to take up the presidency next year of the Group of Seven industrialized nations. White House officials said that in addition to discussing Ukraine and China, the two leaders were expected to discuss migration from North Africa to Europe's southern shores. More than 1,900 migrants have died or gone missing in the Mediterranean so far this year, bringing the total of dead and missing since 2014 to 27,675, according to the International Organization for Migration. “On issues of foreign policy, there’s been a lot of overlapping and mutually reinforcing approaches that we’re taking on with Italy,” White House National Security Council spokesman John Kirby said. “Italy is a NATO ally and they are a very competent NATO ally and they’ve been a tremendous supporter of Ukraine.” The Biden administration viewed Meloni's predecessor, economist and former European Central Bank chief Mario Draghi, as an intellectual force and one of its strongest allies in Europe. Soon after Meloni's victory last September, Biden warned about the rise of hard-right populism in Europe and in the United States. “You just saw what’s happened in Italy in that election,” Biden said in an address to the Democratic Governors Association after Meloni’s victory last September. “You’re seeing what’s happening around the world. And the reason I bother to say that is we can’t be sanguine about what’s happening here either.” Meloni became Italy’s first far-right leader to hold the premiership in Italy’s post-World War II republic after the Brothers of Italy party she co-founded more than a decade ago emerged as the largest vote-getter in the September 2022 elections. Her Brothers of Italy party, named after the first words of Italy’s national anthem, has roots in a party founded by nostalgists for fascism following the demise of dictator Benito Mussolini’s regime. But Meloni brushes off any insinuation that she is nostalgic for Mussolini, writing in her autobiography, “I don’t hold the cult of fascism.” Since coming to power, Meloni has faced criticism for her government's direction that city halls stop automatically registering both parents in same-sex couples but instead limit recognition of parental rights only to the biological parent of the child. When Meloni ran for the premiership, she called for a naval blockade of northern Africa to thwart smugglers’ boats overcrowded with migrants determined to reach Europe’s southern shores. But once in office, she quickly dropped talk of any blockade. On the eve of Meloni's visit, the White House sought to stress the U.S. and Italy's close cooperation on Ukraine. Kirby noted that Meloni has been one of the European Union’s most vocal supporters of Ukraine's sovereignty, and Italy has hosted some 170,000 Ukrainians who have fled the war. Meloni has also been a champion of a stronger NATO and views the trans-Atlantic alliance as the linchpin of traditionally strong U.S.-Italian relations. “From a foreign policy lens, the Biden administration sees this is better than what they could have possibly expected or hoped for,” said Max Bergmann, director of the Europe, Russia and Eurasia Program at the Center for Strategic and International Studies in Washington. The prime minister has also expressed skepticism about Italy's ties with China through the Belt and Road Initiative. In 2019, Italy became the first and only G7 nation to join China’s ambitious infrastructure building effort, despite objections from the United States. The project was launched by Beijing in 2013 by President Xi Jinping to link East Asia and Europe through physical infrastructure. The ambition for the project has expanded to Africa, Oceania and Latin America, significantly broadening China’s economic and political influence. Italy must either renew or abandon the accord by early next year. Kirby called Italy's decision on whether to stay in Belt and Road a “sovereign decision” but added that “it's becoming increasingly obvious that more and more countries around the world are seeing the risks, and quite frankly lack of reward for economic partnerships with China.” Meloni is also scheduled to meet with Republican House Speaker Kevin McCarthy on Thursday at the U.S. Capitol. ___ D'Emilio reported from Rome. Read More Ukraine war’s heaviest fight rages in east - follow live Charity boss speaks out over ‘traumatic’ encounter with royal aide One of Libya’s rival prime ministers returns to Tripoli on 1st commercial flight from Italy in years Italy's Meloni opens conference that aims to stanch flows of migrants to Europe with aid to Africa Rights activists fear Tunisia deal will be model for bartering EU money for migrants' lives
1970-01-01 08:00
ECB to Hike Interest Rates Again With Finish Line in View
ECB to Hike Interest Rates Again With Finish Line in View
The European Central Bank is set to lift interest rates by another quarter-point as investors ponder if this
1970-01-01 08:00
Anwar Unveils Plan to Reset Malaysia’s Economic Trajectory
Anwar Unveils Plan to Reset Malaysia’s Economic Trajectory
Malaysian Prime Minister Anwar Ibrahim unveiled a plan Thursday to reset the Southeast Asian economy’s growth trajectory, with
1970-01-01 08:00
Singapore Sees Labor Market Cooling Some More in Coming Quarters
Singapore Sees Labor Market Cooling Some More in Coming Quarters
Singapore’s labor market, which expanded at the slowest pace in seven quarters, is expected to cool further as
1970-01-01 08:00
Oil Resumes Rally as Asian Equities Gain, US Inventories Decline
Oil Resumes Rally as Asian Equities Gain, US Inventories Decline
Oil advanced, tracking gains in wider Asian equity markets, after US crude inventories declined and the Federal Reserve
1970-01-01 08:00
Hong Kong’s Hang Seng Tech Index Rises 20% From May Low
Hong Kong’s Hang Seng Tech Index Rises 20% From May Low
A gauge of China tech shares traded in Hong Kong extended gains from a May low to 20%
1970-01-01 08:00
Hong Kong Dollar in Strong Half of Trading Band on Rate Hikes
Hong Kong Dollar in Strong Half of Trading Band on Rate Hikes
Hong Kong’s currency has risen above the mid-point of its trading band against the dollar for the first
1970-01-01 08:00
Severe Dry Spell Spurs Indonesian Rice Farmers to Switch to Corn
Severe Dry Spell Spurs Indonesian Rice Farmers to Switch to Corn
Some Indonesian rice farmers are planting corn and other crops that require less water as the country braces
1970-01-01 08:00
Hong Kongers Set to Get Longer Visa-Free Time in Malaysia
Hong Kongers Set to Get Longer Visa-Free Time in Malaysia
Hong Kongers are set to get longer visa-free stays in Malaysia, according to people with direct knowledge of
1970-01-01 08:00
Dollar on Back Foot as Fed Axes One of Bears’ Top Hurdles
Dollar on Back Foot as Fed Axes One of Bears’ Top Hurdles
Dollar weakness looks to have room to run after the Federal Reserve said further interest rate hikes would
1970-01-01 08:00
Macquarie Tumbles After Flagging Profit Hit on Weak Trading
Macquarie Tumbles After Flagging Profit Hit on Weak Trading
Macquarie Group Ltd. said weak trading conditions in the first quarter will mean profit is “substantially down” from
1970-01-01 08:00
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